The IBC can accommodate Nidhis only if it recognises the community inside their corporate form.

The court’s resort to supply-by-supply analysis overlooks the manner in which the rights, reciprocal obligations, consideration and development activities operate together to give effect to the executed JDA.

Santosh Associate principally raises constitutional questions about the validity of pre-deposit clauses, and the answers the larger bench gives will settle a controversy that has occupied the courts for some years.